Investment portfolio
|
Asset
|
Location
|
Description
|
Toll increase mechanism
|
% MIG stake
|
Asset value
30 June 2008
|
% of MIG portfolio
|
| 407 ETR |
Toronto |
Operating |
Market based with traffic thresholds |
30.0
|
3,295
|
38
|
| M6 Toll |
Birmingham |
Operating |
Market based |
100.0
|
2,188
|
26
|
| APRR |
France |
Operating |
Inflation |
20.4
|
982
|
11
|
| Westlink M7 |
Sydney |
Operating |
Inflation (quarterly) |
47.5
|
802
|
9
|
| Dulles Greenway |
Virginia |
Operating |
Subject to regulation - tolls specified to 2012 |
50.0
|
398
|
5
|
| Indiana Toll Road |
Indiana |
Operating |
Specified truck toll schedule and fixed car toll until 2010 - thereafter, greater of CPI, 2% or nominal GDP per capita |
25.0
|
344
|
4
|
| Skyway |
Chicago |
Operating |
Specified toll schedule until 2017 - thereafter, greater of CPI, 2% or nominal GDP per capita |
22.5
|
236
|
3
|
| Tagus River Crossings (Lusoponte) |
Lisbon |
Two operating toll bridges |
Inflation |
30.6
|
188
|
2
|
| South Bay Expressway |
San Diego |
Operating |
Market based |
50.0
|
133
|
2
|
| Warnow Tunnel |
Rostock |
Operating |
Minimum of inflation unless IRR > 25.0% |
70.0
|
2
|
0
|
| Other |
|
|
|
|
2
|
0
|
| Total |
|
|
|
|
8,569
|
100
|
Major operating asset performance (12 months to 30 June 2008)
| Asset |
Traffic increase %
|
Revenue increase %
|
EBITDA increase %
|
| 407 ETR |
5.0
|
13.2
|
14.5
|
| M6 Toll |
(11.7)
|
(0.2)
|
2.0
|
| APRR |
2.1
|
5.9
|
7.6
|
| Westlink M7 |
12.2
|
16.4
|
18.1
|
| Dulles Greenway |
(5.2)
|
6.5
|
7.5
|
| Indiana Toll Road |
(8.3)
|
6.6
|
8.6
|
| Skyway |
(7.1)
|
(3.3)
|
4.5
|
| MIG proportionately consolidated1 |
1.2
|
7.3
|
8.3
|
1 Based on proforma proportionately consolidated information. This includes only those assets that MIG held an interest in at 30 June 2008.
|
